Japan‍‍`s ITCL and Bangladesh‍‍`s TML will jointly invest in light engineering sector

Inter Tecno Company Ltd. (ITCL) of Japan is going to invest in Bangladesh‍‍`s light engineering sector. Techno Media Ltd. (TML), Bangladesh‍‍`s state-of-the-art digital banking technology provider, is the joint venture‍‍`s local partner. 

The two investment companies from Japan and Bangladesh signed a Memorandum of Understanding (MoU) as an initial step forward in Tokyo, Japan today.

According to the MoU, under the joint investment plan, these two companies of the two countries will work to assemble lithium batteries and emergency power supply or UPS among energy saver electric bulbs and other equipment in Bangladesh.

TML Managing Director, Joshoda Jibon Debnath sent a copy of the MoU to TheReport.live.

Joshoda Jibon said that through this joint investment plan, the factory will be established in the high-tech park located in Kaliakore, Gazipur, Bangladesh.

He said that Japanese investors are coming forward to expand business in Bangladesh in response to the sincere invitation of Prime Minister Sheikh Hasina who is visiting Japan. More Japanese investors will invest in Bangladesh in future.

Notably, Prime Minister Sheikh Hasina visited Japan on April 25. There, she held a meeting with Prime Minister Fumio Kashida on matters related to bilateral interests.

She also inaugurated the Bangladesh Investment Summit jointly organized by Bangladesh Investment Development Authority and Securities and Exchange Commission.

Currently, 240 Japanese companies have investments in various sectors in Bangladesh. Besides, four companies have registered for investment in the Japan Economic Zone under construction at Araihajar in Narayanganj. The government and businessmen of Bangladesh hope that the number of companies interested in investing here will gradually increase.

Translated by: C.M. Farzana Akther (Junior Sub-Editor)